U.S. Supreme Court allows Chrysler sale to Fiat

The Supreme Court on Tuesday allowed the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.

The high court rejected a request from Indiana pension funds and other opponents of the sale to delay the deal while they challenge Chrysler's sale to a group led by Fiat, a union-aligned trust and the U.S. and Canadian governments.

The Chrysler case has been widely regarded as setting a precedent for General Motors Corp, which also is using a similar quick-sale strategy in its bankruptcy in New York.